The funds you receive from a Shopify Capital merchant cash advance.
To send funds.
Factor or factor rate
The number that the amount received multiplies by to determine the total to remit. Factor rates are either 1.1 or 1.13.
Fixed borrowing cost
The fee for of obtaining a Shopify Capital loan.
Access to capital.
The funds you receive from a Shopify Capital loan.
A 60-day period of the Shopify Capital loan term. Each milestone has a minimum payback amount that must be repaid by the Milstone's end date. If you do not meet the minumum repayment amount, then the difference between your current repayment amount and the minumum repayment amount is debited from your account.
The amount of the total to remit that is yet to be remitted to Shopify Capital.
To deliver money to apply against the total to remit.
Money that is delivered to apply against the total to remit.
Remittance rate or daily remittance percentage
The percentage of your daily sales revenue that will be remitted to Shopify Capital until the total to remit has been remitted.
The loan amount plus the fixed borrowing cost of a Shopify Capital loan. The total amount that must be repaid.
Total to remit
The amount of future sales revenue that Shopify Capital buys. This is calculated by multiplying the amount received by the factor rate.